Notes to Editors:
Bacs has been
maintaining the integrity of payment related services since 1968, with
responsibility forthe schemes behind the clearing and settlement of UK
automated payment methods, Direct Debit and Bacs Direct Credit, as well
as the provision of managed services for third parties, such as the Cash
ISA Transfer Service, and the development, management and subsequent
ownership of the Current Account Switch Service.
More than 120 billion
transactions have been debited or credited to British bank accounts via
Bacs since its inception; in 2016, nearly 6.25 billion UK payments were
made this way, while a new record was also set in September 2016 with
the number of transactions processed by Bacs in a single day reaching a
high of 109.3 million.
A not-for- profit entity which has maintained
carbon neutral status since 2012, Bacs is a membership company limited
For further information please visit www.bacs.co.uk.
about Direct Debit:
A Direct Debit is an instruction from a customer to
their bank or building society authorising an organisation to collect
varying amounts from their account, normally for regular payments for
everything from household bills to charitable donations. Almost nine out
of 10 British adults have at least one Direct Debit commitment, with 73
per cent of household bills paid this way; 62 per cent of people in GB
prefer to pay most bills by Direct Debit, and the number of people who
feel positively towards Direct Debit reached 77 per cent in 2016. Over 4
billion Direct Debits were processed in 2016, and Direct Debit payments
are protected by the Direct Debit Guarantee, a money back consumer
For more information about Direct Debit, visit
More about Bacs Direct Credit:
Bacs Direct Credit
is a simple, secure and reliable service, which enables organisations of
all sizes to make payments direct into a bank or building society
account - unlike cash or cheques, Bacs Direct Credit payments cannot be
lost, stolen or delayed in the post. There are more than 150,000
organisations in the UK using Bacs Direct Credit; while it has been
widely adopted to pay benefits, wages and salaries – nearly 90 per cent
of the country’s workforce is paid this way and one billion benefit
payments are made via Bacs Direct Credit – it is also the payment method
of choice for a range of other applications such as pension payments,
employee expenses, insurance settlements, dividends and refunds.
also owns and manages the Current Account Switch Service, as well as
operating the Cash ISA Transfer Service and the Biller Update Service.
Find out more here.